Why Sharps Technology Stock Is Trading Lower

Sharps Technology Inc STSS shares are trading lower after the company announced a $3.8 million private placement at $1.69 per share.

What Else?

Sharps Technology says proceeds will be used to support the manufacturing of pre-filled specialty syringe systems through its partnership with Nephron Pharmaceuticals.

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The offering is expected to close on or about February 3, subject to the satisfaction of customary closing conditions.

According to data from Benzinga Pro, Sharps Technology has a 52-week high of $3.62 and a 52-week low of $0.82.